We have seen a huge increase in the number of foreclosures in the past 4 months.

As I understand it, you are responsible for a slew of things like back taxes, foreclosure fees, liens on the property ETC...

I suspect a foreclosure will costs about $3,000 so the risk is really a problem.That said a Working Line Of Credit (WLOC) can work with a local bank.

Does anyone have knowledge or experience of buying a note from a bank that is heading into foreclosure?

Im new to this board, and I want to start investing in Foreclosures and performing flips, but when I come across forecloures for sale in the state of Maryland they average $300-450,000!!!

Some of these will go to foreclosure. 2008 should be better by mid-year

Peter, it has been my experience that the REO properties can be found through MLS by setting your filter to "Foreclosures" in the Disclosures section.

Im in a wierd situation a leas purchase that i signed a contract for is going into foreclosure, my landlord has been taking my rent and not paying his mortgage, does anyone know what options i have at this point, would defeinitely like to still purchase this property but unprepared at this moment becuase of credit isssues

You can foreclosure while continuing to make the payments.John Corey

I read De Roos's books and some Carleton shhets material, and now I'm basically hunting for a deal.Since I started looking I spotted some potential properties.As you guys may know Michigan is second in foreclosures so there are plenty of motivated sellers.